By Kate Gibson, MarketWatch
NEW YORK (MarketWatch) -- U.S. stocks fell Friday, cutting into
a seventh monthly gain for the S&P 500 index, after U.S.
consumer spending fell in April and ahead of data on consumer
confidence and business activity.
The Dow Jones Industrial Average (DJI) lost 43.21 points to
15,281.32.
The S&P 500 index (SPX) shed 4.02 points to 1,650.39, with
natural-resources hardest hit among its 10 industry groups.
The Nasdaq Composite (RIXF) fell 7.53 points to 3,483.68.
Casting the largest chunk of the U.S. economy on uncertain
footing, the Commerce Department on Friday reported household
purchases declined 0.2% last month, following a 0.1% rise in March;
incomes were static.
Equity futures held their drop after the spending report.
At 9:55 a.m. Eastern, the Thomson Reuters/University of
Michigan's final index of consumer sentiment for May is scheduled
for release.
Another report, due at 9:45 a.m. Eastern, will offer a gauge of
U.S. business activity in May.
Dell Inc. (DELL) rose 0.5% as founder Michael Dell, the computer
maker's board of directors and its private-equity partners faced a
lawsuit by shareholders contesting Dell's effort to take the
company private.
Dell on Friday urged shareholders to vote for the $24.4 billion
buyout offer led by CEO Dell at a special meeting July 18, calling
it better than other options.
Among movers, Krispy Kreme Doughnuts Inc. (KKD) climbed after
the doughnut maker beat first-quarter profit and revenue estimates
and raised its outlook for the year.
U.S. stocks climbed on Thursday as reports on economic growth
and jobless claims heightened thinking that the Federal Reserve
would continue its level of monthly bond purchases.
The central bank's monetary easing is a major factor in the bull
market, now in its fourth year.
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